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3120250016412 <br />RECORDED IN THE PUBLIC RECORDS OF <br />RYAN L. BUTLER, CLERK OF COURT <br />INDIAN RIVER COUNTY FL <br />BK: 3766 PG: 9 Page 1 of 33 4/2/2025 3:15 PM <br />DEVELOPER'S AGREEMENT BETWEEN <br />INDIAN RIVER COUNTY AND MERITAGE HOMES OF FLORIDA, INC. <br />FOR FAIR SHARE ROADWAY IMPROVEMENT CONTRIBUTON, RIGHT-OF-WAY <br />DEDICATIONS AND ASSOCIATED ROADWAY AND DRAINAGE IMPROVEMENTS <br />THIS DEVELOPMENT AGREEMENT ("Agreement") is made and entered into this R54 <br />day of March, 2025, by and between INDIAN RIVER COUNTY, FLORIDA, a political <br />subdivision of the State of Florida, 1801 27`h Street, Vero Beach, FL 32960 ("County") and <br />MERITAGE HOMES OF FLORIDA, INC., a Florida profit corporation, 18655 North Claret <br />Drive, Suite 400, Scottsdale, AZ 85255 ("Developer"). <br />WITNESSETH: <br />WHEREAS, Developer proposes to develop a "Planned Development" (PD) Community <br />located north of 25' Street SW on the west side of 43d Avenue SW in Indian River County, <br />Florida, to be known as Lakeside West formerly known as Tripson Estates, to include single family <br />residences on the real property legally described as follows (the "Project"): <br />SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF. <br />WHEREAS, at its regular meeting on June 23, 2022, the Planning & Zoning Commission <br />granted preliminary planned development (PD) plan and plat approval for PD -21-11- <br />10/2001090106-90748); and <br />WHEREAS, a developer's agreement for fair share contribution toward funding the <br />improvements to the 43'a Avenue SW and State Road 60 intersection is required as a condition of <br />the PD approval; and <br />WHEREAS, a developer's agreement for right-of-way dedication is required as a condition <br />of PD approval; and <br />WHEREAS, the County and the Developer share mutual goals and have determined that <br />they can assist each other with respect to right-of-way dedication, roadway and drainage <br />improvements, and other improvements described herein and required by the PD approval; and <br />WHEREAS, County and Developer desire to enter into this Agreement to set forth the <br />terms and conditions to which they have agreed with respect to the matters contained herein; and <br />WHEREAS, the development proposed is consistent with Indian River County's <br />comprehensive plan and land development regulations; and <br />NOW, THEREFORE, for and in consideration of these premises, ten dollars ($10.00) and <br />other good and valuable consideration, the receipt and sufficiency of which are hereby <br />acknowledged by the County and the Developer do hereby covenant, stipulate, and agree as <br />follows: <br />4856-8263-0075, v. 6 <br />